Canada’s Suncor Energy is gearing up to launch the sales process for its exploration and production business in Norway, according to several people familiar with the matter.

Four industry sources told Upstream that the Calgary-headquartered company has made informal contact with the market as it prepares to seek to exit the Norwegian continental shelf (NCS).

Three of the sources said a formal marketing process, which will be run by Scotiabank, is expected to be launched before the end of January, or soon afterwards, at which point more details about the assets up for sale and the schedule will be made available to potential buyers.